Bill · S. 1121· Senate(119-S-1121)
Performing Artist Tax Parity Act of 2025
- Introduced
- 3/25/2025
- Last activity
- 3/25/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Mark Warner
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
The Performing Artist Tax Parity Act of 2025 aims to amend the Internal Revenue Code of 1986. It seeks to change the adjusted gross income limitation for deductions regarding performing artist employees' expenses. The bill also updates the threshold for determining nominal employers. Additionally, it includes provisions for cost-of-living adjustments for certain amounts. These changes are intended to affect how performing artists handle expenses and commissions.
Yes
Would middle-income households be better off under this?+3
The bill benefits middle-income performing artists by adjusting expense deduction thresholds for inflation.
Does this cut taxes for middle-income families?+3
The bill provides tax relief for performing artists through increased deduction clarity and inflation-adjusted thresholds.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased deduction clarity for performing artists: The bill specifies that deductions can include any commission paid to a performing artist's manager or agent (Section 2(b)).
-
Inflation protections for performing artists: The $100,000 income threshold for expense deductions will be increased annually after 2025 based on cost-of-living adjustments (Section 2(a)(2)(iii)).
-
Higher thresholds for nominal employers: The amount used to determine nominal employers will increase from $200 to $500 (Section 2(c)(1)).
-
Inflation protections for employer thresholds: The $500 amount for determining nominal employers will be subject to cost-of-living adjustments in calendar years after 2025 (Section 2(c)(2)).
Potential Negative Impacts for People
- Income-based phaseout of deductions: The amount of expenses a performing artist can take into account will be reduced by 10 percentage points for every $2,000 (or $4,000 for joint returns) that their gross income exceeds $100,000 (or $200,000 for joint returns) (Section 2(a)(2)(ii)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Middle Class Households+3
- Economy And Finance
- Reduces Middle Class Taxes+3
- 3/25/2025
- Read twice and referred to the Committee on Finance.
- 1 Cosponsor added.
- Introduced in Senate
2 bills Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Thomas TillisRepublican · North Carolina